Nintendo Co. this week estimated a loss for the fiscal year amid slow sales of the Wii U console.

The company this week said it expects to incur a $240 million annual loss.

In addition, it cut its fiscal year sales forecast for the Wii U to 2.8 million units from nine million units, and Wii U software sales to 19 million units from 39 million units.

Finally, the company lowered the fiscal year Nintendo 3DS sales estimate to 13.5 million units from 18 million units, and software sales to 66 million from 80 million units.

President Satoru Iwata said the company is thinking about a new business structure and cited smart devices as a way to increase the traditional game player business.

Nintendo released Wii U, the successor the Wii hardware, to the U.S. market Nov. 18, 2012.

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